The 'Krishi Kalyan Cess' was introduced for: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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An opening journal entry is passed to:
Correct Answer: Option C
Explanation:
The opening entry records the closing balances of real and personal accounts from the previous year into the new books.
The opening entry records the closing balances of real and personal accounts from the previous year into the new books.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is not a type of voucher?
Correct Answer: Option C
Explanation:
Vouchers are classified as source vouchers (e.g., invoices) and accounting vouchers (e.g., cash, debit, credit, journal). Audit voucher is not a standard type.
Vouchers are classified as source vouchers (e.g., invoices) and accounting vouchers (e.g., cash, debit, credit, journal). Audit voucher is not a standard type.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The process of transferring entries from journal to ledger is called:
Correct Answer: Option C
Explanation:
Posting is the process of transferring debit and credit amounts from journal to respective ledger accounts.
Posting is the process of transferring debit and credit amounts from journal to respective ledger accounts.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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